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Lessons learned from ‘the toughest Cat season’

March 2, 2021 by Adam Malik

The COVID-19 pandemic made it difficult at times for insurers to work through natural catastrophes, said a Wawanesa executive during a recent web conference. But they’ve learned a few lessons because of it. As Cats stormed through Alberta to the

News AdjustersClaimsClaims ProfessionalsCommercial AutoInsurersPersonal Auto

The future of auto claims if everyone keeps working from home

February 23, 2021 by David Gambrill

Auto insurers will be watching very carefully to see how future working-from-home arrangements will affect downtown traffic patterns — and hence, auto insurance claims — during the post-pandemic era, says an RSA Canada claims executive. Government lockdowns to avoid the

News AdjustersAlbertaB.C.BrokersClaimsClaims ProfessionalsInsurersSaskatchewan

Cat counter starts the year at $134 million for winter storms

February 19, 2021 by David Gambrill

For the Canadian P&C insurance industry, Cat activity roared in like a lion in January, but has looked more like a kitten since then. Two winter storms in Western Canada caused more than $134 million in insured damage, based on

News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsConstructionPersonal HomePropertySupply Chain

Property restoration space has ‘big capacity’ issue: Brindamour

February 19, 2021 by Greg Meckbach

Intact Financial Corp. is aiming to build capacity in what CEO Charles Brindamour calls the “super-fragmented” restoration contractor industry. “Our thought process with On Side [Restoration] is very much consistent with what we tried to do with BrokerLink a decade

News AdjustersBusiness InterruptionClaimsClaims Canada ArchiveCommercialInsurersLoss Trends

How much COVID business interruption claims could cost Fairfax

February 17, 2021 by Greg Meckbach

Business interruption claims arising from the COVID-19 pandemic are expected to cost Fairfax Financial Holdings Ltd. nearly Cdn$300 million. Toronto-based Fairfax released Feb. 11 its financial results for 2020, reporting US$669 million in COVID-19 losses across all of its insurers.

News AdjustersAlbertaCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsConstructionInsurersLoss TrendsPersonal HomePropertySupply Chain

What’s making it harder to estimate property Cat claims

February 17, 2021 by Greg Meckbach

Recent price increases in building materials means it is harder than normal to predict the cost of repairing property damage, restoration experts say. Restoration contractor Peak Services handled several thousand claims after the June 13, 2020, record hail storm in

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Insurers beware: Why your settlements may not be secure

February 16, 2021 by Canadian Underwriter

A record-keeping blunder more than 50 years ago means London, Ont.’s Catholic diocese faces a new multi-million-dollar lawsuit over sexual abuse during the early 1970s of an elementary school student by a priest. The Supreme Court of Canada announced Feb.

News AdjustersAlbertaCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsOntarioPersonal AutoProperty

How COVID-19 has affected repair of vehicles from hail

February 12, 2021 by Greg Meckbach

The COVID-19 pandemic has created some barriers to repairing vehicle and property damage – including a shortage of auto body parts, and a labour shortage impacted by Canada Emergency Response Benefit (CERB) recipients who are reluctant to return to work,

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How much the second COVID wave will probably add to Intact’s claims costs

February 10, 2021 by Greg Meckbach

Intact Financial Corp. has now reserved $106 million for claims related to COVID-19, with $23 million of that booked during the last three months of 2020. Intact initially set aside $83 million in reserves for COVID-19 claims during the three

News AdjustersClaimsClaims ProfessionalsLegalManitobaPersonal Auto

How to avoid turning the mishandling of a claim into a six-figure bad faith award

February 3, 2021 by David Gambrill

A Manitoba court decision ordering the province’s public auto insurer to pay a bad faith award of $350,000 serves as a cautionary tale to the industry that bad faith awards for mishandling a claim can be made even after a

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Why this small claims tribunal changed an auto insurer’s liability finding

January 21, 2021 by Greg Meckbach

A British Columbia driver who was found 50% at fault for a collision by the province’s monopoly auto insurer has partly won a small claim against the other driver. Hartmut Wolfram and Yunsun Kim collided with one another in Burnaby

News AdjustersAlbertaBrokersClaimsClaims ProfessionalsCommercialInsurersLegal

Court sides with condo insurers that used the wrong policy to deny a $4.4-million water damage claim

January 20, 2021 by David Gambrill

Six subscription policy insurers that denied coverage to a condo corporation in a $4.4-million water damage claim — a denial based on reference to the wrong policy — have had the matter tossed out of court. The Court of Queen’s